Fidelity National Financial (NYSE:FNF) Releases Quarterly Earnings Results, Misses Estimates By $0.10 EPS

Fidelity National Financial (NYSE:FNF) released its earnings results on Thursday. The financial services provider reported $1.41 earnings per share for the quarter, missing the consensus estimate of $1.51 by ($0.10), FiscalAI reports. The company had revenue of $4.05 billion for the quarter, compared to the consensus estimate of $3.66 billion. Fidelity National Financial had a net margin of 8.34% and a return on equity of 15.06%.

Fidelity National Financial Stock Down 3.3%

Shares of NYSE:FNF traded down $1.85 during trading hours on Thursday, hitting $54.21. The company’s stock had a trading volume of 2,090,575 shares, compared to its average volume of 1,521,784. The firm’s fifty day moving average price is $55.25 and its 200 day moving average price is $57.22. Fidelity National Financial has a 52 week low of $50.61 and a 52 week high of $66.72. The company has a market capitalization of $15.24 billion, a price-to-earnings ratio of 13.07, a P/E/G ratio of 0.73 and a beta of 0.98. The company has a debt-to-equity ratio of 0.47, a current ratio of 0.25 and a quick ratio of 0.25.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Barclays cut their price objective on shares of Fidelity National Financial from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Tuesday, January 6th. Keefe, Bruyette & Woods upped their price target on shares of Fidelity National Financial from $70.00 to $72.00 and gave the company an “outperform” rating in a report on Thursday, December 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Fidelity National Financial in a research note on Monday, December 29th. National Bank Financial set a $63.00 target price on Fidelity National Financial in a research report on Tuesday, January 6th. Finally, Wall Street Zen downgraded Fidelity National Financial from a “buy” rating to a “hold” rating in a report on Monday, January 26th. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Fidelity National Financial presently has an average rating of “Moderate Buy” and a consensus price target of $68.25.

Insider Activity

In related news, Director Halim Dhanidina sold 6,000 shares of Fidelity National Financial stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $55.90, for a total transaction of $335,400.00. Following the transaction, the director directly owned 13,186 shares of the company’s stock, valued at $737,097.40. This trade represents a 31.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 5.50% of the company’s stock.

Institutional Trading of Fidelity National Financial

Several hedge funds and other institutional investors have recently bought and sold shares of FNF. Invesco Ltd. raised its position in shares of Fidelity National Financial by 17.4% in the 4th quarter. Invesco Ltd. now owns 980,947 shares of the financial services provider’s stock worth $53,550,000 after acquiring an additional 145,157 shares in the last quarter. Corient Private Wealth LLC boosted its position in Fidelity National Financial by 0.4% during the fourth quarter. Corient Private Wealth LLC now owns 140,605 shares of the financial services provider’s stock valued at $7,526,000 after purchasing an additional 581 shares in the last quarter. Mercer Global Advisors Inc. ADV grew its stake in Fidelity National Financial by 12.4% in the fourth quarter. Mercer Global Advisors Inc. ADV now owns 107,333 shares of the financial services provider’s stock valued at $5,859,000 after purchasing an additional 11,811 shares during the last quarter. Beacon Pointe Advisors LLC raised its holdings in Fidelity National Financial by 43.0% in the fourth quarter. Beacon Pointe Advisors LLC now owns 18,524 shares of the financial services provider’s stock worth $1,011,000 after purchasing an additional 5,571 shares in the last quarter. Finally, EP Wealth Advisors LLC bought a new position in Fidelity National Financial in the fourth quarter worth about $2,059,000. Institutional investors own 81.17% of the company’s stock.

About Fidelity National Financial

Fidelity National Financial (NYSE: FNF) is a leading provider of title insurance and transaction services to the real estate and mortgage industries. The company underwrites title insurance policies that protect property owners and lenders against title defects, liens, and other encumbrances. Alongside its core title insurance operations, FNF offers escrow and closing services, e-recording solutions, and real estate data and analytics through a network of agents and underwriters.

FNF operates through two primary segments: Title Insurance and Specialty Insurance and Services.